Tesla Seeks First Retail Supplier License Outside Of Texas, Will Use Supplier Consolidated Billing

Tesla Energy Ventures, LLC applied for an Illinois alternative retail electric supplier license to serve residential customers and small commercial retail customers, and large commercial and industrial customers, in the Commonwealth Edison service area

Tesla currently operates as a retail electric provider in Texas and is not licensed as a retail electric supplier in any other jurisdiction.

Tesla Energy Ventures intends to provide single billing services (supplier consolidated billing) to residential and other eligible retail customers in the ComEd service territory

Retail suppliers using supplier consolidated billing at ComEd are required to post security of not less than 15% of a good faith estimate of the total amount that the supplier expects to be obligated to pay to ComEd under the single billing tariffs

"Using a Year-2 padded customer ramp (residential, Supercharger, and small facility load; excluding large industrial) and published ComEd delivery charges (Customer Charge, Metering Charge, Distribution Facilities Charge, and Illinois Electricity Distribution Tax applicable to the relevant delivery classes), estimated annual SBO [SCB] remittance is approximately $10.3 million; 15% equals approximately $1.55 million," Tesla said in the application

Tesla provided a $1.6 million bond with its application for compliance with the SCB security requirement

Specifically, Tesla estimates serving 3,425 residential meters at ComEd within 12 months and, for informational purposes only, Tesla estimates serving 9,781 residential meters at ComEd within 24 months

Tesla, "intends to offer time-of-use rate plans, electric vehicle charging-optimized rate plans, and renewable-backed electric supply plans, as well as a Virtual Power Plant program aggregating customer-owned distributed energy resources," Tesla said in the application